The firm has increased revenues by 9 per cent year-on-year, topping the £20m threshold for annual billings for the first time in its history (£21.7m). This comes after five consecutive years of substantial growth, a period that has seen the firm become one of Scotland’s most successful independent legal firms.
The strong commercial performance results in another increase to Morton Fraser’s performance-related bonus scheme, which will reward all staff with up to 13% of their annual salary. Profits have also risen by 13% this year.
Chris Harte, Chief Executive of Morton Fraser LLP, said: “The quality of our team is the one consistent factor underpinning this period of growth for our business. We have some exceptional talent and some of the best specialist teams in the country. The roster of truly independent Scottish firms is dwindling, and our focus on talent is setting us apart.”
Morton Fraser’s employment law team now has more accredited employment specialists than any other firm in Scotland. The Law Society of Scotland introduced its specialist accreditation scheme to recognise solicitors who have developed genuine expertise during their careers.
According to Morton Fraser, this year’s positive performance includes a fantastic year for its commercial real estate division, whose burgeoning reputation in London is reaping rewards. The team is also Diageo's lead legal advisors for commercial real estate work in the UK. It also advised Rockspring on the purchase of 9-10 St. Andrew Square in Edinburgh and BAM Properties on its role in Edinburgh’s largest speculative office development at Capital Square. It also helped Platform_ to launch in Scotland with the acquisition of Central Quay, a private rented housing development, in Glasgow.
Morton Fraser’s corporate team played an integral part in Quattro Group’s multi-million-pound acquisition of Scotland’s biggest privately-owned plant hire operator, AB 2000. Meanwhile, its banking and finance team won several key panel appointments.
The firm has also seen an increase in its international standing, with a growing number of referrals through the global network Interlaw.
Chris Harte added: “It would be wrong to assume that a proudly independent firm in Scotland can only do business in Scotland. Our connections and reputation extend not only into the City of London, but also internationally. We help overseas clients to assess their options here and also support domestic clients in other jurisdictions, too. We are the only Scottish firm in the Interlaw network but you still need a reputation for excellence to succeed internationally.”